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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. The senior mortgage traders maintain that their abuse of trainees leads to _____.
(a) Enlightenment.
(b) More money.
(c) Better workers.
(d) Lawsuits.

2. Which publication calls John Gutfreund the "King of Wall Street"?
(a) Business Week.
(b) Barron's.
(c) The Wall Street Journal.
(d) Forbes.

3. The cafeteria kitchen at Salomon Brothers is known throughout Wall Street for its _____.
(a) Bagels.
(b) Cleanliness.
(c) Health inspection warnings.
(d) Pretty cashiers.

4. From what school does Leonard Bublick, the trainee who gets hit in the head with a paper wad thrown by the former U.S. Navy fighter pilot, get his M.B.A.?
(a) Yale.
(b) University of Iowa.
(c) University of Indiana.
(d) Oberlin.

5. Jim Massey is a member of Salomon Brothers executive committee in charge of sales and presides over _____, which directly affects the future of all trainees.
(a) Paper evaluations.
(b) The break room surveillance cameras.
(c) The job placement blackboard.
(d) Testing sites.

6. Which department at Salomon Brothers is considered "the sleepy backwater"?
(a) Analysis.
(b) Bond trading.
(c) Equities.
(d) Corprate finance.

7. The author characterizes the bond trader as a _____.
(a) Cowboy.
(b) Rock star.
(c) Bull.
(d) Warden.

8. Where was the author born and raised?
(a) The Deep South.
(b) Boston.
(c) London.
(d) New York.

9. What is the name stockbrokers give to the day in 1976 when fixed stock brokerage commissions ended?
(a) Black Friday.
(b) Blue Monday.
(c) Mayday.
(d) A green Christmas.

10. As Lewis observes people in his firm, he finds that just as some people are mean drunks, mortgage traders are mean _____.
(a) Teachers.
(b) Gluttons.
(c) Parents.
(d) Dogs.

11. A _____ of personal popularity is how Lewis thinks trainees are chosen by managers.
(a) Cult.
(b) Grand illusion.
(c) Ponzi scheme.
(d) Bee's nest.

12. The author characterizes the people initially involved in home mortgages as ______.
(a) Shoe salesmen.
(b) Sheep ranchers.
(c) Burger flippers.
(d) Corn farmers.

13. In 1979, which company specializes in junk bonds?
(a) Drexel Burnham.
(b) Shearson.
(c) Salomon Brothers.
(d) Lehman.

14. A row of Bic fine-point pens in a plastic case in the breast pocket of someone who works on Wall Street is commonly called a _____.
(a) Platoon.
(b) Badge of honor.
(c) Nerd pack.
(d) Cigarette pack.

15. According to the author, in order for the home mortgage to become a bond, it has to be _____.
(a) Inflated.
(b) Refinanced.
(c) Depersonalized.
(d) Reversed.

Short Answer Questions

1. What is a phrase the author uses to describe Meriwether's value to Salomon Brothers?

2. Bob Dall and Stephen Joseph create the first _____ of mortgage securities.

3. Wall Street has a river at one end and a ______ at the other.

4. The author describes England as the land of ________.

5. There are 287 books about bonds in the New York Public Library and most of them are about _____.

(see the answer keys)

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